The two-and-a-half mile (ish) championship race will be run for the 13th time on the same day that the Stayers Hurdle name returns to the schedule as part of a new sponsorship deal with Sun Bets.
Last year's Ryanair was won in dazzling fashion by Willie Mullins' Vautour, who sadly died last November after breaking his leg in a freak accident in a paddock.
Can his former stable companion Un De Sceaux keep the prize at Closutton?
ALARY - Form: 3632PF
Jockey: Tom O'Brien
Trainer: Colin Tizzard
Arrived at the Tizzard yard with a massive reputation after running some big races in France, but results so far have been disappointing. Tough to see him bouncing back from a heavy fall at Exeter in an even tougher contest than the last two he has failed to finish. Rating: 1/10
ASO - Form: -42184
Jockey: Charlie Deutsch
Trainer: Venetia Williams
Won a decent handicap at Chepstow just after Christmas and has run well here in some big handicaps, but he would be much better suited by some cut in the ground and looks to be tilting at windmills in this company. Rating: 2/10
EMPIRE OF DIRT - Form: P11-12
Jockey: Bryan Cooper
Trainer: Gordon Elliott
Had plenty of entries for the Festival but his shrewd, and very much in-form, trainer has opted for a Grade 1 challenge. He won a lesser race at Cheltenham 12 months ago and needs to improve to challenge the likely favourites, but that would not be out of the question. Rating: 7/10
JOSSES HILL - Form: 18-115
Jockey: Nico de Boinville
Trainer: Nicky Henderson
Has run with credit at the last two Festivals, but appeared not to get this trip in last year's Ryanair, when he faded into eighth behind the late, great Vautour. Ran with credit over three miles in the King George and can go well fresh, but might just miss out on the places. Rating: 6/10
SUB LIEUTENANT - Form: -31132
Jockey: David Mullins
Trainer: Henry De Bromhead
Impressive winner of the Belfast Chase last November, with Gold Cup fancy Outlander behind, and Gigginstown Stud will be keen to take a share of the prize money in a race they sponsor. This challenger could well prove to be their best despite looking like the owner's second choice. Rating: 10/10
UN DE SCEAUX - Form: 2-1611
Jockey: Ruby Walsh
Trainer: Willie Mullins
Stepped up in trip a couple of times since his defeat by Sprinter Sacre in last year's Champion Chase. Won well in France over around this distance but failed to stay three miles when challenged for the lead next time. Could face pressure again in this race and that might make life tough. Rating: 8/10
UXIZANDRE - Form: 18U1/2
Jockey: Mark Walsh
Trainer: Alan King
Winner of this race in 2015 but has only run once since then, albeit showing a great deal of promise when beaten five lengths by Un De Sceaux. Stayed on nicely in that race and the trip will suit. He could press his old rival up front but can he overcome the dreaded 'bounce'? Rating: 6/10
VANITEUX - Form: U3-331
Jockey: Noel Fehily
Trainer: Nicky Henderson
Stayed on nicely to win a lower grade race at Kempton in January and has always been highly thought of by connections, but his form in general over fences is short of what will most likely be needed to win a race of this class. Rating: 4/10
VERDICT:
A lot of runners with question marks in this small, but select, field. The trip could be an issue for Un De Sceaux and Josses Hill, while Uxizandre has to prove he is up to running as well as he did on return from nearly two years off. That leads me to a little bit of value in the form of SUB LIEUTENANT, who has run consistently this season and boasts some very decent form on this ground over this kind of trip.